Retailers told to stand their ground over round pound

SHOPKEEPERS being hassled by angry customers who are confused over whether they can spend old £1 coins this weekend have been advised to stand their ground.

Consumers have just two days left to spend their round pounds before they cease to be legal tender from Monday and are expected to hit the shops in a bid to get rid of them. But a boycott of the official deadline by thousands of stores is likely to result in mass confusion among consumers over when and where the coins can be spent.

The switch to the new £1 is set to give shops a boost over the weekend with up to two thirds of the 500million old coins expected to be spent before the deadline of midnight tomorrow. But angry shoppers have spoken out after being handed round pounds as change days before the deadline.

A spokesman at the Federation of Small Businesses said: “There’s no obligation for any business to accept the old pounds after the deadline.

“Any businesses that continue to accept them are doing so voluntarily. While it is likely many will, it’s purely at their discretion. Shopkeepers experiencing difficult behaviour from customers should stand their ground and remind them of the Royal Mint’s rules.”

The Royal Mint and the Treasury are understood to have told businesses they want a “clean break” from the round pound to avoid potential chaos being created by some shops continuing to accept them as payment.

But thousands of stores including Tesco, Poundland and Iceland will continue to accept the coins beyond the deadline. Rules coming into force tomorrow prevent shops handing out pounds as change and give shops the right to refuse them as payment.

However, there is nothing to prevent shops – which can bank them long after Sunday – accepting the coins.

The 12-sided coin came into circulation in March in an effort to cut back on counterfeits.